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Dollar Eases Against Yen, Euro
On Interest-Rate Speculation

By

Stephanie Hoo Dow Jones Newswires

Updated June 2, 1999 12:01 a.m. ET

NEW YORK -- The dollar fell against the yen and euro in line with early declines in stocks and bonds, after a stronger-than-expected manufacturing report increased speculation Federal Reserve will raise interest rates to cool the economy.

While the Dow Jones Industrials Average ended up, it spent most of the day in negative territory. As U.S. assets show weakness, "there are certain concerns by market participants about whether the U.S. is the place to put money," said Jeffrey Yu, vice president at Sanwa Bank in New...